BUDGETWISE IMPROVEMENTS ADD TO A LOCAL HOMES EYEAPPEAL
When it comes to boosting your Las Vegas home’s value, the question arises about which of the possible improvements that you might undertake would wind up paying for themselves. At first blush, you might think this should be a cut-and-dried analysis¬—that is, any improvements that don’t at least add their cost to the asking price should be disqualified. But that would be to discount the fact that a property’s improved condition can speed its sale. When a few improvements might change the overall impression from ‘fixer-upper’ to ‘move-in-ready,’ true value is added. Too many days on market can wind up being costly to the seller, not only because of the inconvenience factor, but because interested buyers may assume a deeply discounted offer will have a better chance of being accepted.In any case, especially when the budget for improvements is especially tight, there are some cheap fixes that can be counted as especially likely to recoup their cost. Here are three that Las Vegas sellers can consider: Let There Be Light Nothing torpedoes an area home’s marketability like the impression that it’s a creaky old relic. We’re not talking about homes that merit ‘antique’ status, which is a plus, but those with rooms that seem gloomy: the opposite of those with bright, airy spaces that convey a cheerful feeling. Because rebuilding a room actually to expand its physical dimensions is expensive, one solution is to create an improved atmosphere with light: adding or replacing light fixtures. To maximize your bang for the buck, consider adding a showpiece fixture or two—perhaps a chandelier or pair of wall sconces—in key locations. The kitchen, dining room, and entryway/foyer are all great choices for a hanging light fixtures. Buyers often tend to focus on those areas, and respond well when they are transformed into warm and inviting spaces. Seed Your Way to Curb Appeal It’s a truism that curb appeal is vital, but when time and budget make it impractical to deal with a full front yard do-over, one of the least costly improvements that immediately boosts eye-appeal is to put the lawn in top condition with a quick reseed. Brown patches and bare spots are a sure way to kill a lawn’s visual appeal, and even otherwise-healthy areas can get a boost from thicker growth. A variety of easy-to-use products is available that allow you to sprinkle simply an all-in-one mixture of fertilizer and seeds that will take root and grow quickly. Take a pass over the lawn now, and with consistent watering, by summer the entire yard can look terrific! Update Vintage Plumbing While appearance matters, buyers are still going to be very interested in the “guts” of the home. If you’re dealing with an older area house, it’s likely that the plumbing has seen better days. Fortunately, replacing or upgrading pipes doesn’t have to be as expensive and disruptive a project as used to be the case. Modern technology allows new plastic piping to be snaked between the walls through a few small holes. Amazingly, today’s plumbers can sometimes even avoid installing new pipes by lining existing pipes with self-expanding vinyl bladders that seal leaks and protect water quality. I’m always happy to provide a no-obligation consultation to discuss which budget-wise improvements have a track record of adding appeal to area home buyers. Why not give me a call?
SELLING A HOME YOURSELF NOT THE BEST DO IT YOURSELF PROJECT
You pronounce it “FIZZ-bow.” That’s FSBO: For Sale by Owner, and it’s the Road Less Traveled by area homeowners bent on selling a home in town as economically as possible. It does seem to make common sense, after all. It’s the homeowner who knows the ins and outs of their own home best—so who could be more qualified to show it off to the buyers who’ll be lined up, waiting to take a look? And even more to the point, why lose any part of the sale proceeds to some local real estate agent? It can’t be rocket science to fill out the paperwork and complete the sale. Isn’t that just common sense? For those considering selling a home themselves, even cursory research is likely to result in one nagging question. The latest sampling from the NAR shows that the vast majority—88%, in fact—of today’s successful sellers are assisted by a real estate agent. That proportion has been growing, lately, too: it’s up 19 percentage points since 2001. This has to give rise to the nagging question: “If it’s common sense, how come the vast majority eventually wind up going with a real estate agent?” What happens in a sale plays a large part, starting with an examination of the bottom line of actual sales. It reflects the fact that the customary commission percentage that goes to real estate professionals is split in two, with half going to the seller’s and half to the buyer’s agent. So the net “savings” a FSBO seller stands to realize is half of the usual initial assumption when the buyer is professionally introduced by the buyer’s representative. Unless the buyer just appears on his or her own. Which brings up a couple of other potential problems. If the buyer shows up on the seller’s doorstep, who has qualified him or her? (Short answer: nobody). It’s awkward and practically impossible for a homeowner to interview every prospective buyer in depth before showing the home, but having strangers in your area house with no outside record of the event is at best an iffy prospect. The fact is, most qualified home buyers see the advantage of teaming with a licensed local real estate agent, whose market knowledge is up to the minute, and who will assist them every step of the way at no cost to themselves. Those qualified buyers stand to be a FSBO’s likeliest prospects, in which case the potential ‘savings’ from a do-it-yourself strategy are halved. But as a working reality, FSBO sellers run a substantial risk that those hoped-for calls from active agents may be slow to materialize. It is often the case that local agents, noting that the home is a FSBO, place it low on the list of properties their clients have time to tour. Among other indicators, a FSBO listing on the MLS signals to the area real estate community that the owner is not truly serious about selling the home—else why is it not part of a professional office’s marketing package? Too, buyers’ agents work to protect their clients from difficult situations, and many FSBO sellers are not well-versed and experienced in negotiating and selling houses. Problems can erupt. All things being equal, it means that FSBOs get few showing requests. Plus, any advertising costs will be paid for out of the owner’s pocket—an expensive strategy. It’s pretty clear why almost 9 out of 10 homeowners selling a home go with a qualified real estate agent. I hope you agree—and decide to give me a call!
LEADERSHIP AND FINDING THE IDEAL LAS VEGAS REAL ESTATE AGENT
A few of Las Vegas’s professionals operate as one-person enterprises, but that’s unusual. Even a one-doctor medical practice has back-up staff. Most lawyers, even if they aren’t in a partnership arrangement, have at least one assistant or secretary to help. Small commercial businesses are called ‘mom and pop’ operations because…well, you get the picture. Almost any serious enterprise takes a team effort to get anywhere—especially in this day and age. So it’s no surprise that when they set about buying a Las Vegas home or selling their own, most town folks don’t take on the project all by themselves. Even though the average American family buys a new home every 7 to 10 years, constantly changing state and local regulations make keeping up with them a professional-level challenge. And even though the first part of the buying process—finding the most likely listed properties—can be started from your computer, as soon as the winnowing begins, the knowledge of a Las Vegas real estate agent—someone who lives and breathes real estate—soon becomes crucial. As we wade deeper into the 2016 election cycle, one of the themes that keep coming up is “leadership”—the ability to recruit and direct expert help. When buying or selling a Las Vegas home, it’s no different: you want the team you assemble to be as strong as possible. That will free you for your most important leadership role, the decision-making. The first order of business is to find an agent who will not only assist with all the real estate transactional details, but also help identify and recommend other reliable professionals you will need in successive steps of the process. Since finding that agent starts with you, here are some tips to help focus your selection: • Everyone responds differently to differing personalities. What type of person do you click with? Do you envision a real estate agent who is a straight shooter—who will deliver realistic advice, a bubbly personality full of optimism—or perhaps a bit of both? Jot down the personality traits that you would like to see in your agent. • Identify needs unique to your situation. If you’re house hunting on a tight budget and need a home fast, you want an agent experienced in finding affordable options. If you’re selling an expensive home in a much-sought-after neighborhood, you might want a local real estate agent who’s sold high-end properties in the neighborhood. • Ask colleagues, neighbors, and friends for recommendations. Don’t collect referrals from just one source. Everyone in your neighborhood might use the same agent, but a colleague might have another recommendation. You want to shop around for an agent, so don’t rely on just one referral. • Check credentials. A credentialed real estate agent is essential. Of course, nix any agent who isn’t licensed in our state. • Interview your short list. When you meet with potential agents, ask for a list of recent sales completed near your price point. See if you are comfortable with how the agent prefers to communicate: phone, email, text, or a mix. Finally, request the contact information for a few recent clients to check references—and then check them! Finding your perfect real estate agent starts with the effort put in by the leader: you. I hope your search includes this real estate agent…in fact, why not start by giving me a call!
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